Rockefeller Capital Management L.P. Increases Stock Position in General Dynamics Corporation $GD

Key Points

• Rockefeller Capital Management boosted its General Dynamics stake by 12.5% in the fourth quarter, adding 11,806 shares and bringing its total holding to 106,218 shares worth about $35.8 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $13.48 billion topping forecasts; revenue rose 10.3% year over year.
• The company declared a quarterly dividend of $1.59 per share, while analysts currently view the stock as a Moderate Buy with an average price target of $388.40.

Rockefeller Capital Management L.P. raised its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,218 shares of the aerospace company's stock after purchasing an additional 11,806 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in General Dynamics were worth $35,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GD. Dunhill Financial LLC increased its stake in General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics during the third quarter worth about $25,000. Dagco Inc. purchased a new position in shares of General Dynamics in the 4th quarter worth about $25,000. Burkett Financial Services LLC increased its position in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Finally, Steph & Co. increased its position in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 86.14% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on GD shares. The Goldman Sachs Group cut their target price on General Dynamics from $327.00 to $313.00 and set a "sell" rating for the company in a research note on Monday, May 4th. Royal Bank Of Canada reissued a "sector perform" rating and set a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. DA Davidson lowered their price objective on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Citigroup reduced their target price on shares of General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a report on Monday, May 18th. Finally, Weiss Ratings cut shares of General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $388.40.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $350.39 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. General Dynamics Corporation has a one year low of $275.49 and a one year high of $369.70. The business's 50 day simple moving average is $341.10 and its two-hundred day simple moving average is $347.30. The stock has a market capitalization of $94.76 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.17 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion for the quarter, compared to analysts' expectations of $12.70 billion. During the same quarter last year, the business earned $3.66 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. Analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics's dividend payout ratio (DPR) is 40.03%.

Insider Activity

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares of the company's stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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